Ohio § 5733.054 Deduction or addition where portion of certain gains or losses is allocated or apportioned to Ohio

Ohio Statutes

§ 5733.054 — Deduction or addition where portion of certain gains or losses is allocated or apportioned to Ohio

Ohio § 5733.054

Title 57Taxation

Ch. 5733Corporation Franchise Tax

This text of Ohio § 5733.054 (Deduction or addition where portion of certain gains or losses is allocated or apportioned to Ohio) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 5733.054 (2026).

Text

(A)If any gain that is added to net income pursuant to divisions (I)(12)(a) and (b) of section5733.04of the Revised Code is allocated or apportioned to this state in accordance with divisions (B)(1) and (2) of section5733.05of the Revised Code, a deduction from the corporation's net income allocated and apportioned to this state shall be allowed to the extent that the sum of such gain allocated and apportioned to this state, when added to the amount of such gain actually allocated and apportioned to other states imposing a tax on or measured by net income, in accordance with the other states' allocation and apportionment rules, exceeds the amount of such gain added to net income pursuant to divisions (I)(12)(a) and (b) of section5733.04of the Revised Code. However, in no event shall the d

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(A) If any gain that is added to net income pursuant to divisions (I)(12)(a) and (b) of section5733.04of the Revised Code is allocated or apportioned to this state in accordance with divisions (B)(1) and (2) of section5733.05of the Revised Code, a deduction from the corporation's net income allocated and apportioned to this state shall be allowed to the extent that the sum of such gain allocated and apportioned to this state, when added to the amount of such gain actually allocated and apportioned to other states imposing a tax on or measured by net income, in accordance with the other states' allocation and apportionment rules, exceeds the amount of such gain added to net income pursuant to divisions (I)(12)(a) and (b) of section5733.04of the Revised Code. However, in no event shall the deduction provided by this division exceed the amount of such gain allocated or apportioned to this state.

(B) If any loss which is deducted from net income pursuant to divisions (I)(12)(a) and (b) of section5733.04of the Revised Code is allocated or apportioned to this state in accordance with divisions (B)(1) and (2) of section5733.05of the Revised Code, an addition to the corporation's net income allocated and apportioned to this state shall be made to the extent that the sum of such loss allocated and apportioned to this state, when added to the amount of such loss actually allocated and apportioned to other states imposing a tax on or measured by net income, in accordance with the other states' allocation and apportionment rules, exceeds the amount of such loss deducted from net income pursuant to divisions (I)(12)(a) and (b) of section5733.04of the Revised Code. However, in no event shall the addition provided by this division exceed the amount of such loss allocated or apportioned to this state.